Honeywell International Inc. HON successfully expanded its portfolio of solutions for drug discovery, medical diagnostic testing and other laboratory applications as it completed the acquisition of the Seelze, Germany-based laboratory research chemicals business from Sigma-Aldrich Corporation (SIAL) - a leading life science and technology company.
The Sigma-Aldrich-branded solvents and inorganic chemistry portfolio in the European Economic Area ("EEA") are now a part of Honeywell's portfolio of offerings for research chemicals. The sale also includes global rights to the Sigma-Aldrich's Fluka brand. The acquired business will be integrated into Honeywell's Fine Chemicals arm, which is a part of the Honeywell Performance Materials & Technologies business.
The transaction will enrich Honeywell's portfolio with three distinguished, industry-leading research chemical brands, namely Fluka, Hydranal and Chromasolv, which have an extensive range of uses that include drug synthesis, environmental, chemical, food and forensic testing.
Honeywell's portfolio already owns the Burdick & Jackson and Riedel-de Haën brands of research chemicals and speciality organic and inorganic compounds, and the addition of titration products, high-purity solvents and reagents, and specialty inorganic chemicals adds further capabilities to its arsenal.
The deal will expand Honeywell's line of inorganic chemicals and solvents for comprehensive and demanding applications, ranging from pharmaceutical drug discovery to medical diagnostic testing. Honeywell's Fine Chemicals business has catered to the chemical and pharmaceutical industries for over a century, delivering quality research chemicals and specialty organic and inorganic compounds.
Honeywell has made over 84 successful acquisitions in the past 13 years, boosting its annual sales by about $12 billion and creating an impressive portfolio that includes 65 brands.
Honeywell presently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks that are worth a look now include Federal Signal Corp. FSS , Macquarie Infrastructure Corporation MIC and Amazon.com, Inc. AMZN , each sporting a Zacks Rank #2 (Buy).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.